$GBPUSD Forecast: Buyers need to reclaim 1.2070 to keep recovery alive by eren_fxstreet forex trading
The 200-period SMA on the four-hour chart and the Fibonacci 50% retracement level of the latest downtrend forms strong resistance at 1.2070. In case the pair rises above that level and starts using it as support, additional gains toward 1.2125 and 1.2200 could be witnessed. Meanwhile, the Relative Strength Index on the same chart holds above 50, suggesting that buyers look to retain control.Information on these pages contains forward-looking statements that involve risks and uncertainties.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
British Pound Technical Forecast: GBP/USD Recovery - Fed Face-offThe GBP is attempting a second weekly advance against the USD after rebounding sharply off technical support early in the month. While the potential for further near-term gains remains, the recovery keeps price within the yearly downtrend.
Read more »
GBP/USD drops to fresh daily low, closer to mid-1.1900s amid resurgent USD demandGBP/USD drops to fresh daily low, closer to mid-1.1900s amid resurgent USD demand – by hareshmenghani GBPUSD Recession RiskAppetite Fed Currencies
Read more »
Gold Price Forecast: XAU/USD rebound needs validation from $1,730 and Fed Chair PowellGold price (XAU/USD) recovers from intraday low as traders consolidate recent losses during Wednesday’s sluggish morning in Europe. That said, the yel
Read more »
GBP/USD Forex Signal: Inverted H\u0026S Pattern Signals BreakoutThe $GBPUSD price tilted lower after a weekend of chaos at Dover and as investors wait for the upcoming Fed interest rate decision.
Read more »
Gold Price Forecast: XAUUSD surrenders intraday gains amid modest USD strengthGold attracted some selling near the $1,728 region on Tuesday and retreated to the lower end of its daily range during the first half of the European
Read more »
GBP/USD pokes monthly high around 1.2100 despite UK political jitters, BOE concernsGBP/USD grinds higher at the monthly top, printing the four-day uptrend as it rises to 1.2085 during Tuesday’s Asian session. it’s worth noting that t
Read more »